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UK trading firm XTX Markets has reported record profits of £1.7bn, as turbulent global markets helped drive a sharp rise in revenues.
Profits after tax at the group’s UK entities rose 33 per cent in 2025 from the previous year, according to filings at Companies House. Revenues increased 44 per cent to £3.9bn, up from £2.7bn the year before.
XTX has grown consistently since it was founded by Russia-born mathematician Alex Gerko in 2015, and has become one of the UK’s most profitable private companies. Gerko holds about 75 per cent ownership of the business and has become one of the UK’s richest people as a result.
XTX declined to comment.
The company performed strongly in turbulent global markets as investors sought to navigate US President Donald Trump’s unpredictable tariff regime and the wide-ranging impact of AI.
XTX is headquartered near London’s King’s Cross and uses machine learning and artificial intelligence to identify and trade on anomalies and patterns in prices across currency, equity, debt, commodity and crypto markets. XTX said it handles about $250bn in daily trading volumes across global markets.
The company competes with firms such as Ken Griffin’s Citadel Securities, trading on behalf of clients, but is much smaller than rivals with roughly 250 employees.
It is also an active venture capital investor, backing at least 35 early stage companies with an AI focus across healthcare, software and other industries, according to its website.
Autonomous vehicle company Wayve, semiconductor start-up Groq and AI speech company Voiceitt are among its investments.
Gerko earned £682mn from XTX’s profits in 2024 and is likely to receive a higher payout from its 2025 earnings.
To manage his money, he has a family office since 2024 named Cromulon Capital after the head-shaped planets in the US sci-fi sitcom Rick and Morty. Gerko has a keen interest in science and is funding the development of a space telescope in Chile.
XTX also recently donated $40mn to the non-profit Global Talent Fund to provide 150 scholarships to top universities, the company’s biggest single donation so far.
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